Indonesia, Philippines Economic Cooperation

Retno Marsudi, Indonesia’s Foreign Affairs Minister, held a meeting with Enrique A. Manalo, Philippine Secretary for Foreign Affairs in Manila on Tuesday (9/1/24,) to discuss the strengthening of bilateral relations, especially in economic cooperation, according to reporting from Antara News.

“On the bilateral front, I focused the discussion mostly on economic cooperation. We welcome the growth of our bilateral trade over the last five years despite the global crisis,” Marsudi stated in a transcript of her press statement after the meeting.

To strengthen bilateral trade, Marsudi and Manalo are committed to exploring new trade opportunities. In the field of investment, the two welcome the enthusiasm of investors from Indonesia and the Philippines to bolster investment cooperation, says Antara News.

The minister stated that a delegation of the Indonesian Chamber of Commerce and Industry (Kadin) is also currently visiting Manila in line with Indonesian President Joko Widodo’s visit to the Philippines.

“Indonesia also appreciates the trust given to Indonesia’s state-owned enterprises to participate in a number of different projects in the Philippines,” she said.

Antara News say that The Philippines is a strategic trade partner for Indonesia. The country contributed to Indonesia’s trade balance surplus, with a value of USD $11.4-billion and the total value of bilateral trade between the two countries reached USD 14.39-billion in 2022, an increase of 57-percent from the previous year.

Minister Marsudi also emphasized the importance of both countries’ commitment to combating transnational crime.

“Indonesia thanked the Philippines for the assistance in repatriating 246-Indonesian trafficking victims last year and returning 73-wildlife birds to their natural habitats in Indonesia,” she said.

Furthermore, Marsudi commended the joint efforts of the Philippines and UNHCR for registering and confirming Persons of Indonesian Descent in Mindanao and stated that Indonesia is looking forward to further support for the second wave registration, say Antara News.

According to Antara News Marsudi’s visit to the Philippines was undertaken to accompany President Joko Widodo and also coincided with the celebration of 75-years of diplomatic relations between Indonesia and the Philippines.

“We should seize this momentum to strengthen our bilateral ties in various sectors of mutual interest and to address regional and global challenges together,” she said.

 

Source: Antara News

Stock photo by iSawRed on Unsplash

 

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